Closing of U.S. Initial Public Offering

Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF, NYSE A:GMTL), a U.S.-focused exploration-stage company focused on tungsten in Nevada, United States, is pleased to announce the closing of its previously announced initial public offering in the United States of 4,444,400 American Depositary Shares ("ADSs"), representing 22,222,000 ordinary shares ("ADS Shares"), at an initial public offering price of $13.50 per ADS. Guardian Metal also announces the exercise of the underwriters' over-allotment option to purchase an additional 611,553 ADSs (the "Over-Allotment Option Exercise"), representing 3,057,765 ordinary shares ("ADS Option Shares"). No further ADSs will be purchased pursuant to the underwriters' over-allotment option following the Over-Allotment Option Exercise. Total gross proceeds to Guardian Metal, before underwriting discounts and commissions and offering expenses, were approximately $68.3 million. All of the ADSs were offered by Guardian Metal.

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BMO Capital Markets Corp. acted as lead book-running manager; Cantor Fitzgerald & Co. acted as bookrunning manager; and D.A. Davidson & Co. and Berenberg Capital Markets LLC each acted as co-managers for the offering.

Tamesis Partners LLP acted as capital markets advisor to Guardian Metal.

The offering was made only by means of a prospectus. The final prospectus related to the offering was filed with the U.S. Securities and Exchange Commission (the "SEC"). Copies of the final prospectus can be obtained from: BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at bmoprospectus@bmo.com.

ADMISSION AND TOTAL VOTING RIGHTS

22,222,000 ADS Shares were admitted to trading on AIM at 8:00 a.m. GMT on March 24, 2026. Application has been made for admission of the 3,057,765 ADS Option Shares to trading on AIM at 8:00 a.m. GMT on March 25, 2026 ("Admission"). The ADS Option Shares will rank pari passu in all respects with the other ordinary shares of the Company currently trading on AIM. Following Admission, the Company's issued share capital will comprise 194,007,981 ordinary shares of £0.01 each. This number represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not EU Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, EU Qualified Investors.